Metaverse come with 7 layers of experience which includes experience, discovery, creator economy, spatial computing, decentralization, human interface, and infrastructure. Businesses are trying to tap in to the potential of metaverse to brand their products and services.

So far, there are no metaverse specific laws, but Intellectual Property Laws of the real world applies to metaverse as well.  To establish ownership of the property clearly and legally, it should be registered. Further, Metaverse can also be patented if they provide a technical solution to a technical problem through the metaverse.

To protect intellectual property in the Metaverse, businesses should register for Intellectual property rights by registering trademarks, copyrights and patents in all jurisdictions of operation.  In an environment where virtual world applications are increasingly used to sell real world goods and services to offset competition and Intellectual Property Infringement, Metaverse Brands should register their virtual property and establish their rights.

Here are some of the top Non-Fungible Token (NFT) Metaverse companies in 2023:

1. Axie Infinity: A decentralized platform that allows users to buy, sell, and trade unique digital creatures called “Axies”.
2. The Sandbox: A virtual world where players can buy, sell, and create unique digital experiences and assets.
3. Decentraland: A virtual world where users can build and monetize games, applications, and experiences using blockchain technology.
4. Rarible: A marketplace for buying, selling, and creating unique digital assets and experiences.
5. Bored Ape Yacht Club (BAYC): An NFT project focused on creating collectible digital apes that have been turned into unique, one-of-a-kind NFTs.
6. Sorare: A blockchain-based platform for buying, selling, and trading rare digital collectibles.
7. Meebits: A digital world where users can create, trade, and collect unique digital creatures.
8. NBA Top Shot: A blockchain-based platform that allows users to buy, sell, and trade officially licensed NBA collectibles.
9. Arianee: A blockchain-based platform that allows brands and individuals to create, manage, and trade unique digital assets and experiences.

The metaverse has emerged as a new frontier for gaming, sports, and music creation.  The convergence of these industries in the metaverse has created exciting opportunities for creators and enthusiasts alike.  Gaming in the metaverse allows for immersive experiences and social interactions that were not possible in traditional video games.  Sports enthusiasts can watch and even participate in live events in the virtual world, regardless of geographic location. Music creators can perform and showcase their talents to a global audience in the metaverse.  The metaverse has also created new opportunities for NFTs, enabling creators to monetize their work in innovative ways. All of these has paved way for business branding too.

Legal Landscape of Metaverse Exploring Challenges and Opportunities For Brands

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